Rectangle/Triple BottomBA broke to the downside from what appears to be a rectangle which is a horizontal trading channel and price stayed in it for quite a while before breaking down. Consolidation patterns like rectangles and triangles will eventually break one way or the other. The bottom of that rectangle was support, which is now resistance.
Probable triple bottom with the last bottom being the lowest of the 3. I would place my stop below this lowest bottom and tuck it away somewhere safe where Mr. Market can not find it if I wanted to hang long term..
This particular stock has been struggling for quite some time it seems.
Bullish Marubozu candle today with both heads being shaven.
Price needs to re-enter rectangle by breaking that former support line which is now resistance and break through top trendline of 233.94 for a longer term type long entry. Some would swing this inside the rectangle if it does not make it through the top trendline. But price has not made it back in to the rectangle yet. There is a suspicious top inside the rectangle marked with orange stars.
BA is opening a little bit lower tomorrow but there was a big gain today.
Short interest is low/less than 1%. Earnings 4-27 BMO.
Price is below all of the longer term moving averages. The 20 is trying to tilt upward. The 100, 50 and 200 definitely need some work.
No recommendation.
An airplane takes off against the wind and not with it.
